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With the most significant reforms to UK pensions regulation for nearly two decades due to come into force later this year, we are delighted to launch our new UK pensions regulation hub to help you keep track of our latest thinking on the new regulatory requirements and the emerging risks. On the hub you will … Read more
The Pension Schemes Act 2021, which will introduce new pension criminal offences, £1m regulatory fines and new requirements relating to funding and climate-related risks, received Royal Assent on 11 February 2021 but most of its provisions do not come into force imediately. Most of these measures are likely to come into force during the next … Read more
The Pensions Minister, Guy Opperman, has confirmed the Government’s timetable for implementing key elements of the Pension Schemes Act 2021. In a written ministerial statement published on 2 March, the Minister has confirmed the Government’s intention to introduce the new criminal offences and regulatory sanctions by the Autumn and to consult on draft regulations to … Read more
The latest edition of our Pensions Planner is here. Click on the image below to open your copy. The Planner and our handy timeline will help you keep up-to-date with the latest developments in pensions law and practice and identify the key pensions issues that your scheme or organisation needs to address in the coming … Read more
The Pension Schemes Act 2021 finally received Royal Assent on 11 February 2021. The Act contains some significant new funding requirements for defined benefit (DB) occupational pension schemes which mean that trustees and sponsors will soon be required to set a legally binding long-term objective for their scheme. In future, this objective will drive the … Read more
The Pension Schemes Act 2021 finally received Royal Assent yesterday, paving the way for the most significant reform of the regulatory regime for defined benefit (DB) pension schemes since its introduction in 2006. The Act introduces new criminal offences and new regulatory powers for the Pensions Regulator that could: significantly impact corporate activity, including M&A … Read more
The DWP has confirmed its plans to introduce new requirements relating to the management and disclosure of climate-related risks for the largest UK pension schemes. The proposed plans were broadly supported by the industry. However, the DWP made some changes in light of the consultation responses it received. Most notably, adjusting the deadline for schemes … Read more
We are delighted to share the latest podcast in our series on ‘Pensions and ESG’, featuring Emma Douglas, Head of DC at Legal & General Investment Management. As policymakers, regulators and civil society groups increase the pressure on pension funds and asset managers to demonstrate that they are effectively managing environmental, social and governance risks, … Read more
2020 was undoubtedly an unprecedented year, dominated of course by the impact of Covid-19 and here in the UK, by the preparations for Brexit. The year may (finally) be over, however, these themes are likely to continue to dominate the agenda in 2021. Nevertheless, with vaccines being rolled out and a Brexit deal agreed, there … Read more
